The benchmark cash/three-month spread in aluminium at the start of this week hit backwardation levels not seen since before the Global Financial Crisis, which is a landmark event but not necessarily a signal of a major shift in market dynamics.It is most probably a short-term aberration caused by the potent combination of February date shorts clashing with dominant longs but given added spice and...Read More
Palisade Research February 23, 2018 Category: Research Cobalt 27 (CVE:KBLT, OTCMKTS:CBLLF, FRA:27O) has a very simple strategy – it's to give investors exposure to a booming cobalt market.Here’s how – the company holds physical cobalt and is acquiring streams, royalties and direct interests in mine properties containing cobalt.They're storing the physical cobalt in warehouses a...Read More
* Deripaska to step down as Rusal president from March 15* He was included on U.S. "oligarch's list"* CEO Vladislav Soloviev to become new president HONG KONG, Feb 23 (Reuters) - Russian billionaire Oleg Deripaska plans to step down as the president of aluminium giant Rusal , the company said in a statement on Friday.The change comes less than a month after the inclusion of Deripaska a...Read More
Feb 23 (Reuters) - Russian aluminium giant Rusal almost matched forecasts with a 42 percent jump in fourth-quarter core earnings on Friday, helped by higher aluminium prices.Hong-Kong listed Rusal said fourth-quarter earnings before interest, taxation, depreciation and amortisation (EBITDA) rose to $586 million from $412 million in the last quarter of 2016. Analysts had expected core earnings of...Read More
Gold traders witnessed a return to calmer waters as the wild price swings from yesterday’s release of January’s FOMC meeting minutes have subsided.It seemed as if yesterday’s price action was a battle between the hawks and the doves. The initial dovish sentiment perceived in the minutes released yesterday quickly turned hawkish as traders and analysts adjusted their interpretatio...Read More
(Kitco News) - Don't expect uncertainty in the gold market to go away anytime soon as analysts see potential for upswings and downswings while prices continue to hover in the middle of a short-term trading channel.In a note to clients, Ole Hansen, head of commodity strategy at Saxo Bank, said that risks are growing in the gold market and prices could see a prolonged correction, falling to key supp...Read More
(Kitco News) - Gold and silver prices were ending the U.S. day session not far from unchanged levels on the day. Both safe-haven metals saw some early selling pressure in the present environment of not much risk aversion in the marketplace. However, a sell-off in the U.S. dollar index as Thursday’s trading day progressed was a bullish outside market force supporting the precious metals. Apri...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, xpert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a rangebound gold price environment. Sign up for Kitco News Weekly Roundup newsletter to receive Horwitz's exclusive report and trade strategy March 10. (Kitco News) - For p...Read More
(Kitco News) - Lackluster silver prices are not deterring one Canadian silver explorer from implementing its exploration plans because the market could be on the cusp of a significant market rally, according to the company’s top executive.In an interview with Kitco News, Greg Johnson, chief executive officer of Metallic Minerals, (TSX.V: MMG) said that the company is moving forward with a pl...Read More
(Kitco News) -Barrick Gold Corp. (NYSE, TSX: ABX) Thursday outlined the company’s plans to develop a number of projects that are expected to add another 1 million ounces or more of annual production starting in 20212.Nevada projects at Cortez Deep South, Goldrush and Turquoise Ridge have been approved, while work on a project to extend the life of the Lagunas Norte Mine in Peru is under way,...Read More
(Kitco News) - Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.Will gold prices go higher, lower or remain unchanged next week? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12 PM EDT) along with the results from our market professional survey.Readers can al...Read More
(Kitco News) - The markets reacted to the FOMC minutes from January that were released yesterday. At first, the markets saw the minutes as dovish and both the metals and equity markets shot higher. Then the market realized that the minutes were from before the higher inflation data that was released in February and the Trump tax cut. The market assessed that had this data been considered, the Fed...Read More
What were supposed to be benign minutes from the FOMC caused a meltdown in equities on Wednesday. In the initial reaction to an overly dovish Fed, markets soared higher, pushing the Dow up almost 300 points. The jubilation for more free money was quickly met with fear and a market meltdown, with the Dow closing down almost 200 On the news, the dollar crumbled, and gold rallied along with the bonds...Read More
The latest news and price moves to start the Asian day on Thursday February 22.Nickel was again the star performer on the London Metal Exchange at the 5pm close on Wednesday February 21, ending with gains of around 2%. Read more in our live futures report.Here are how LME prices looked at Wednesday's close:International miners active in the Democratic Republic of Congo are in wait-and-see mode aft...Read More
The latest news and price moves to start the Asian day on Thursday February 22.Nickel was again the star performer on the London Metal Exchange at the 5pm close on Wednesday February 21, ending with gains of around 2%. Read more in our live futures report.Here are how LME prices looked at Wednesday's close:International miners active in the Democratic Republic of Congo are in wait-and-see mode aft...Read More
Apple has been experimenting with ways to recover cobalt from its lithium-ion batteries and to use recycled cobalt. The company says it could potentially recover 550 kilograms of cobalt from every 100,000 iPhone 6 devices it recycles. Now there are reports it's looking to secure cobalt directly from miners, marking a further move by original equipment manufacturers (OEMs) to ensure certainty of ra...Read More
The three-month copper price on the London Metal Exchange was the only base metal to close in positive territory on Thursday February 22, with the rest of the complex caught in a sell-off. "Through the afternoon sessions, and with the US dollar lower again, upward momentum was maintained and some prices recovered broadly to yesterday's levels." Sucden Financial noted. Copper dipped as low as $7,00...Read More
Wieland-Werke will strengthen its position as Europe's largest semi-finished copper products producer by acquiring Aurubis' rolled-products division later this year, yet the deal is intended to kickstart growth in the US and Asian markets, chief executive officer Erwin Mayr told Metal Bulletin. The two German companies said they were in talks over the acquisition, which will see Wieland take on a...Read More
Apple has been experimenting with ways to recover cobalt from its lithium-ion batteries and to use recycled cobalt. The company says it could potentially recover 550 kilograms of cobalt from every 100,000 iPhone 6 devices it recycles. Now there are reports it's looking to secure cobalt directly from miners, marking a further move by original equipment manufacturers (OEMs) to ensure certainty of ra...Read More
The former chief executive officer of Rio Tinto and Vedanta Resources, Tom Albanese, has joined an advisory board at flourishing miner Nevada Copper, in the expectation of being nominated for membership of the company's board at an annual general meeting in April.Albanese is joined on the advisory board by veteran mining analyst Ernie Nutter, previously of Capital Group and RBC...Read More